Michael Piro, Co-CEO, Indochina Capital Corporation
Michael Piro is one of Vietnam’s leading real estate professionals, bringing more than two decades of experience in real estate development, investment, and capital markets advisory. He serves as Co-CEO and a Board Member of Indochina Capital Corporation, and is also a Board Member of Indochina Kajima, a strategic joint venture between Indochina Capital and Japan’s Kajima Corporation focused on developing and operating real estate assets across Vietnam.
Over the course of his career, Michael has played a key role in the planning and development of more than US$2 billion of real estate projects across Vietnam, spanning hospitality, residential, office, and industrial sectors. In addition, he has been actively involved in structuring and executing cross-border investment transactions exceeding US$1 billion, working with institutional investors and global capital partners to deploy capital into the Vietnamese real estate market.
Recognized as a thought leader in the region’s real estate sector, Michael has been invited to speak at numerous international industry forums, including events organized by Forbes, MIPIM, HICAP, RICS, the Harvard Global Real Estate Symposium, and Columbia University.
Michael is also an active member of the Urban Land Institute (ULI), serving on the Asia Pacific Executive Committee, where he contributes to regional dialogue on urban development, investment strategy, and the future of real estate across Asia-Pacific.
He is a Chartered Surveyor (MRICS) and holds a Bachelor’s degree in Urban Land Economics from the University of British Columbia, as well as a Diploma in Technology (Commercial Real Estate) from the British Columbia Institute of Technology.
The journey of Indochina Capital (ICC) began in 1999, when Vietnam’s real estate market was still in its early days, and has established itself as a pioneering innovator in Vietnam’s rapidly evolving real estate development, investment advisory, and capital markets sectors. The firm was founded on a consistent vision: Creating Authentic Value for Community and Society.
For nearly three decades, that vision has shaped ICC’s name through real estate developments across Vietnam — from high-end residences to landmark hotels, resorts, and commercial properties, where international standards meet deep local insight. Successfully developed premium brands that are well-recognized with over 30 regional awards across our projects. Through its subsidiaries, ICC operates an integrated ecosystem spanning Real estate development (Indochina Land, Indochina Kajima), Real estate investment banking (Indochina Strategic), Hotel management (Wink Hotels), and Equities (Indochina Capital Advisors).
In 2016, Indochina Capital and Kajima Corporation—one of Japan’s largest and oldest construction and real estate companies—entered into a 50:50 joint venture to create a new development platform in Vietnam called Indochina Kajima Development Limited. A US$2 billion investment plan backs Indochina Kajima, focused primarily on Vietnam’s real estate, spanning hospitality, industrial, and office sectors. Its key developments include the Wink Hotels chain (with six hotels currently in operation across Vietnam’s key cities and participating in the Unscripted by Hyatt collection), Core5 Vietnam ready-built factories and warehouses (with three operating assets and three more under development), Parc Hanoi – Grade A Office Tower, and Mandarin Oriental Bai Nom – an ultra-luxury resort & residence.
At the same time, Indochina Capital launched its real estate investment banking, Indochina Strategic (“ICS”). ICS has advised on numerous high-profile transactions involving institutional-grade investment properties. To date, ICS has successfully closed over US$1 billion in transactions and is widely recognized within the investment community as a leading transaction advisor, supported by its extensive investor network and proven ability to navigate complex deal structures.
Indochina Capital’s equities division, Indochina Capital Advisors, invests in Vietnam’s capital markets on behalf of its clients and boasts an unrivaled track record since 2004, topping the VN Index in 12 of the last 16 years.
Company Specialty: Real estate development, investment advisory, and capital markets sectors.
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